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Private Limited Company
Introduction
A private company is a company which is owned by limited set of individuals, which agrees to carry any business activity/ies at their free will. Usually, a private company does not offer or trade its shares to the general public on the stock exchanges, but rather the private stock of the company is owned and traded among limited individuals/entities.
Business Format Description
Formation of Private limited Companies requires, minimum 2 and maximum 200 individual/non-individual members. The liability of members are limited up to the contribution of capital by them or guarantee provided to the company. Companies are not required to contribute any minimum share capital( as per the companies act, 2013, as amended). There is no need to appoint any Independent director/s. Compliances burden are less as compared to public limited companies. Minimum 2 directors are required to operate the company. Shares are not publicly transferable.
Eligibility :
• Directors must have minimum age of 21 years and maximum age of 70 years.
• Directors should not be disqualified under section 164 of the companies act, 2013.
• No proceeding under COFEPOSA should be pending, against the directors.
• Directors should not be convicted of any imprisonment over 7 years.
• Persons with Sound Mental Health can start a company.
• Persons recognized as Insolvent by the court of law cannot be a director the company, until such insolvency omits.
• Director Identification Number is required u/s 152 of the companies act, 2013
Required Documents
• PAN of Every Promotor/Director/Managerial Personnel.
• AADHAR of Every Promotor/Director/Managerial Personnel.
• Passport Size Photo of Every Promotor/Director/Managerial Personnel.
• Digital Signature Certificate of Every Promotor/Director/Managerial Personnel.
• Bank Statement with latest entries , not later than 2 months of Every Promotor/Director/Managerial Personnel.
• Passport of Every Promotor/Director/Managerial Personnel. (Mandatory, if available)
• Voter ID/ Driving License of Every Promotor/Director/Managerial Personnel.
• Recent Utility bill as a address proof of the companies registered place of business.
• Rent Agreement / NOC by the Owner.
• Declaration as per Nidhi Rules 2014.
• Other ancillary documents(If required, as per the special nature of the company)
Seprate Legal Entity
Company is a separate legal entity, which can sue as well as can be sued.
Assets and Liabilities
Company can hold assets and liabilities in its own name.
Perpectual Existence
Existence of company is perpetual (having Unlimited Life)
Liability
Liability of Members/Investors are limited.
Transparency and Efficiency
Provides better transparency and efficient working culture as it is governed by its Memorandum and article of association.
Funds
Company can borrow funds, in its own name.
-
₹799
inclusive tax
Private Limited Co-(Expert Advice/Consultancy Charges)
-> Get expert advice.Our team have experienced CA/CS/Legal Council.They will Guide you about registration process, documentation,legal requirements,advantage pvt.ltd. formation,taxation matters,legal compliances etc.
₹799 per year
-
₹2499
inclusive tax
Private Limited Co-(Silver Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * ESIC Registration * PF Registration * Allotment of Director Identi...
₹2499 per year
-
₹6499
inclusive tax
Private Limited Co-(Gold Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * ESIC Registration * PF Registration * Allotment of Director Identi...
₹6499 per year
-
₹14999
inclusive tax
Private Limited Co-(Platinum Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * ESIC Registration * PF Registration * Allotment of Director Identi...
₹14999 per year
-
₹24999
inclusive tax
Private Limited Co-(Diamond Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * ESIC Registration * PF Registration * Allotment of Director Identi...
₹24999 per year
Benefit of a Particular Format:
Seprate Legal Entity
Company is a separate legal entity, which can sue as well as can be sued.
Assets and Liabilities
Company can hold assets and liabilities in its own name.
Perpectual Existence
Existence of company is perpetual (having Unlimited Life)
Liability
Liability of Members/Investors are limited.
Transparency and Efficiency
Provides better transparency and efficient working culture as it is governed by its Memorandum and article of association.
Funds
Company can borrow funds, in its own name.
Process :
- Applicant has to fill up the form for required incorporation services
- Stay Relax, our representative will connect with you at earliest
- Get your documents ready, Our executive will ask for the necessary forms/documents/deeds.
- Our executives will finally scrutinised the forms/documents/deeds provided by you.
- After valid scrutiny, our team will continue preparing necessary attechments required for E-Filing
- After submission of E-Forms,, approval will be granted by Registrar
- Congratutaion !! Your are ready to Kick Start your venture.
Frequently Questions :
Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe -INC-32), withe MoA (INC-33), eAOA (INC-34), is the default option and most companies are required to be incorporated through SPICe only.
A proposed name can be reserved for the purpose of incorporation of a company or change of name of an existing company through the RUN service by logging into the MCA portal along with a fee of Rs. 1000/-. Further, you may use the SPICe form for the integrated process of name reservation and incorporation of a company.
An approved name is valid for a period of
(i) 20 days from the date of approval (in case name is being reserved for a newcompany) or
(ii) 60 days from the date of approval (in case of change of name of an existingcompany)
The minimum paid up capital at the time of registration of a company shall be as follows:
– One Person Company: Re.1/-
– Private Limited Company: Rs.2/-
– Public Limited Company: Rs.7/-
nvariably, the Balance Sheet and Annual Return have to be filed every year. Other documents such as, Return of Allotment (Form No. Pas-3), Change of Registered office (Form No. INC-22), Change among the Directors (Form No. DIR-12), Charges (Form No. CHG- 1, 9, 4) etc., have to be filed within the due date from the events taking place in the company as per the Companies Act, 2013.
The company will have to file all the due annual returns and balance sheets for the financial years for which it has been marked as defaulting. Once the same are filed, the defaulting status of the company will be removed and the company will be able to file normally.